Actually, the conversion to HD capability was relatively slow outside of the very top markets.
What you had was the HD Alliance, which was the Top 10 biggest radio companies all supporting HD. That dropped off after a few years.
Also a lot of NPR stations were early adopters, and many are still using it now.
How else could they possibly have made money otherwise?
By planning for the long term, like 20 years. My sense is they knew it was a short term deal, just enough so iBiquity could sell to DTS.

